CITECH Co., Ltd. (KOSE:A004920) agreed to acquire KEVIC, Inc. for KRW 7 billion on February 11, 2022. CITECH Co., Ltd. will acquire 0.32 million shares of KEVIC, Inc. in the deal. The acquisition will be carried out through holding cash and issuance of convertible bonds.

The Board of CITECH Co., Ltd. has resolved the deal on February 11, 2022. The deal is expected to close on February 28, 2022.